The Game of Supports and Resistances: A Practical Guide for Market Survivors

Support and resistance lines? Bah, this whole talk is older than moving forward in the crypto world. But let me tell you one thing: understanding this game can be the difference between getting rich or crying while looking at the negative balance.

When I started trading, I thought it was all just trader nonsense. Today? I don't take a step without analyzing those damn lines.

The holder is that magic line where the price seems to hit and bounce back up, as if there were an invisible trampoline. The resistance? It’s the glass ceiling that keeps the price from rising further.

I'm going to teach you how I draw these things:

To find supports: Look for where the price has hit and risen several times. It's like that ex who always comes back - no matter how many times you send them away.

To find resistances: It's where the price tries to rise and gets slapped in the face. How many times have you seen Bitcoin hit 80 thousand and fall? That's right.

I use green for holders and red for resistances. And when does one turn into the other? I change the colors and curse a little, because that always catches me off guard.

Golden tip: draw these lines on the wicks of the candles, not on the body. It may seem trivial, but it makes all the difference.

After drawing, analyze whether we are in a bull or bear market. Bull market? The support lines keep getting higher. Bear? The opposite.

Ah, and one thing I learned the hard way: these lines are not written in stone. The market loves to make a fool of you, especially when you're feeling very confident.

This is not financial advice, it's just my account as a survivor of the brutal crashes of 2022. Do your own analysis or fuck off on your own.

And remember: in the end, we are all just trying to guess the future with colored lines on a chart.